TREC ADVERTISING REQUIREMENTS

TREC ADVERTISING REQUIREMENTS

New Advertising Rules

New Rules Adopted November 2017 ?Effective May 15, 2018

The rule was split into two rules to separate out name and registration of name requirements from advertising requirements.

?535.154. Registration and Use of Alternate, Team and Assumed Business Names Used in Advertisements.

?535.155. Advertisements

?535.154. Registration and Use of Names

Alternate name, Associated Broker, Assumed Business Name and Team Name are defined. All must be registered with TREC BEFORE the name can be used in advertising. The Broker registers the assumed business names and team names. The individual license holder registers any alternate name.

?535.154. Registration and Use of Names

Team name is not an assumed business name of the broker Team name must end with the word "team" or "group" Team name cannot contain terms that imply that the team is offering brokerage services independent of the broker, even if it ends with the word "team" or "group"

?535.155. Advertisements

Each advertisement must include the following in a readily noticeable location in the advertisement:

(1) the name of the license holder or team placing the advertisement; and

(2) the broker's name in at least half the size of the largest contact information for any sales agent, associated broker, or team name contained in the advertisement.

Social media exception changed to be more flexible

Subsection (d) sets out 20 instances of advertisements that mislead or are likely to deceive the public, tend to create a misleading impression, or imply that a sales agent is responsible for the operation of the broker's real estate brokerage business in violation of TRELA 1101.652(b)(23).

?535.155 (d) Highlights

An advertisement violates TRELA 1101.652(b)(23) if it is an ad:

(4) that uses a title, such as owner, president, CEO, COO, or other similar title, email or website address that implies a sales agent is responsible for the operation of a brokerage;

(5) that contains a team name with terms that imply the team is offering brokerage services independent from its sponsoring broker, including, but not limited to, "realty", "brokerage", "company", and "associates";

?535.155 (d) Highlights

An advertisement violates TRELA 1101.652(b)(23) if it is an ad:

(7) that contains the name of a sales agent whose name is, in whole or in part, used in a broker's name and that implies that the sales agent is responsible for the operation of the brokerage;

(11) about the value of a property, unless it is based on an appraisal that is disclosed and readily available upon request by a party or it is given in compliance with ? 535.17;

?535.17 Estimated Worth or Sales Price

535.17 Broker Price Opinion, Comparative Market Analysis or Sales Price Estimate ? Effective December 6, 2017

Now includes estimated worth or sales price in the types of price statements that require a broker to provide a written statement to consumers.

The required written statement was shortened to read:

"This represents an estimated sale price for this property. It is not the same as the opinion of value in an appraisal developed by a licensed appraiser under the Uniform Standards of Professional Appraisal Practice."

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